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Ksju [112]
3 years ago
10

7) Mr. Smith acquired a property consisting of one acre of land and a two-story building five years ago for $100,000. He also ob

tained an $80,000 mortgage loan from ACE Bank to provide financing to complete the purchase. This year, Mr. Smith constructed another building on the property with his own funds at a cost of $20,000. Mr. Smith has decided after completing the building to approach Duce Bank to borrow against his property with a $16,000 second mortgage. Is Duce Bank likely to provide the $16,000 in financing
Business
1 answer:
Natasha2012 [34]3 years ago
8 0

Answer:

hey sorry i just want points YOSHII :3

Explanation:

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"The Carla Vista Boat Company's bank statement for the month of November showed a balance per bank of $8,500. The company's Cash
DaniilM [7]

Answer:

Explanation:

                                    The Carla Boat Company

                                     Bank Reconciliation Statement

                                     as at 30th November

Balance as per bank balance                                          $8,500

Add:  Uncredited payment                                              $6,480

Add:   Bank Charges                                                         $50

Add:  Returned Chq                                                           $700

Less:  Outstanding Chqs                                                  ($6,260)

Less:   Note received                                                         ($3,880)

Less: transposition error on payment                             ($54)

Balance as per cash book                                                 $5,536

Journal entries for transactions:

1. Debit : Bank Charges Expenses                         $50

  Credit: Bank Account                                            $50

Being bank charges expenses for the month of Nov

2. Debit: Cash in bank                                           $54

    Credit: Account Payable                                   $54

Being transposition error on Check No 138

3. Debit: Account payable                                      $700

   Credit: Bank Account                                           $700

Being NSF check returned

4. Debit: Bank Account                                           $3,880

   Credit: Notes Receivable                                   $3,748

    Credit: Interest on investment                          $132

Being note receivable and accrued int

4 0
3 years ago
 Because of its importance in summarizing your strategy, the Introduction and Overview of your business plan should be 
Rashid [163]

Answer:

Because of its importance in summarizing your strategy, the Introduction and Overview of your business plan should be written last-B.

3 0
3 years ago
Assume a company had the following production costs: Direct labor $ 2 per unit Direct material $ 3 per unit Variable overhead $
Mamont248 [21]

Answer:

Total production cost $ 14 per unit  Under absorption costing True

The total product cost per unit when 4,000 units are produced would be $22.50  False

Explanation:

Direct labor $ 2 per unit

Direct material $ 3 per unit

Variable overhead $ 4 per unit

Total variable $ 9 per unit

Fixed overhead ($50,000/10,000 units) $ 5 per unit

Total production cost $ 14

Production Costs involve the fixed costs under absorption Costing. So the total Product cost under absorption costing is $ 14.

When 4,000 units are produced the production costs are as follows

Absorption Costing: 4,000 * 14= $ 56,000

Variable Costing : 4000 * 9= $ 36,000

So the second statement is false.

3 0
2 years ago
When a closed economy is in equilibrium, we know with certainty that
faust18 [17]

Answer:

inward shift in the supply curve.

Explanation:

= I = S + (T-G). shift in the supply curve.

4 0
2 years ago
Bernice’s has $823,000 in sales. The profit margin is 4.2 percent and the firm has 7,500 shares of stock outstanding. The market
Irina-Kira [14]

Answer:

a. 3.58

Explanation:

the price earning ratio is obtain with the following formula:

\frac{Market \: Price}{EPS}

We are given with the market price, now we need to solve for the EPS

with sales and profit margin we solve for net income. then we divide by the shares outstanding to get the EPS

823,000 sales x 4.2 profit margin = 34.566‬ net income

now we solve for EPS Earning per share:

\frac{Income}{Shares}\\\frac{34,566}{7,500} = 4.6088‬

Now we can sovle for price-earnings ratio

\frac{Market \: Price}{EPS}

16.50/4.61 = 3,5791 = 3.58

8 0
2 years ago
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